Market cap of Polestar Automotive Holding UK PLC ADR [PSNY] reaches 730.00M – now what?

Polestar Automotive Holding UK PLC ADR [NASDAQ: PSNY] traded at a low on Wednesday, posting a -6.59 loss after which it closed the day’ session at $1.56. The company report on February 1, 2024 at 1:34 AM that Polestar Welcomes Geely’s Long-Term Commitment to Its Development and Growth as an Independent Exclusive Performance Brand.

Polestar Automotive Holding UK PLC (Nasdaq: PSNY), the Swedish electric performance car brand, welcomes Geely Sweden Holding as a potential direct new shareholder. Volvo Cars is evaluating a potential adjustment to its shareholding in Polestar including a distribution of shares to its shareholders, with Geely Sweden Holding being the primary recipient. Volvo Cars will remain a strategic partner in areas across R&D, manufacturing, after sales and commercial.

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Polestar has made significant progress in developing an all-electric model line-up, a global sales and service network and a diversified manufacturing footprint. Polestar announced a strengthened business plan in November 2023 that set a clear path to profitability. With business actions to manage costs, drive higher margins and cashflow, Polestar reduced its expected external funding need to approximately $1.3 billion until targeted cash flow break-even in 2025 and is well advanced on securing the additional external funding required.

The results of the trading session contributed to over 6473612 shares changing hands. Over the past one week, the price volatility of Polestar Automotive Holding UK PLC ADR stands at 5.98% while the volatility over the past one month is 7.45%.

The market cap for PSNY stock reached $730.00 million, with 467.68 million shares outstanding and 467.67 million shares in the current float. Compared to the average trading volume of 2.95M shares, PSNY reached a trading volume of 6473612 in the most recent trading day, which is why market watchdogs consider the stock to be active.

What do top market gurus say about Polestar Automotive Holding UK PLC ADR [PSNY]?

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for PSNY shares is $3.81 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on PSNY stock is a recommendation set at 2.56. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

Bernstein have made an estimate for Polestar Automotive Holding UK PLC ADR shares, keeping their opinion on the stock as Underperform, with their previous recommendation back on January 24, 2024. While these analysts kept the previous recommendation, Piper Sandler raised their target price to Overweight. The new note on the price target was released on November 01, 2023, representing the official price target for Polestar Automotive Holding UK PLC ADR stock. Previously, the target price had yet another drop from $5 to $3, while Barclays kept a Underweight rating on PSNY stock.

The Average True Range (ATR) for Polestar Automotive Holding UK PLC ADR is set at 0.14, with the Price to Sales ratio for PSNY stock in the period of the last 12 months amounting to 0.26.

How has PSNY stock performed recently?

Polestar Automotive Holding UK PLC ADR [PSNY] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -6.59. With this latest performance, PSNY shares dropped by -25.36% in over the last four-week period, additionally sinking by -55.93% over the last 6 months – not to mention a drop of -71.00% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for PSNY stock in for the last two-week period is set at 35.10, with the RSI for the last a single of trading hit 31.29, and the three-weeks RSI is set at 37.54 for Polestar Automotive Holding UK PLC ADR [PSNY]. The present Moving Average for the last 50 days of trading for this stock 2.0578, while it was recorded at 1.7000 for the last single week of trading, and 2.9225 for the last 200 days.

Polestar Automotive Holding UK PLC ADR [PSNY]: Deeper insight into the fundamentals

Polestar Automotive Holding UK PLC ADR’s liquidity data is similarly interesting compelling, with a Quick Ratio of 0.33 and a Current Ratio set at 0.55.

Earnings analysis for Polestar Automotive Holding UK PLC ADR [PSNY]

The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for PSNY. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for Polestar Automotive Holding UK PLC ADR go to -13.54%.

Insider trade positions for Polestar Automotive Holding UK PLC ADR [PSNY]

The top three institutional holders of PSNY stocks are: VANGUARD GROUP INC with ownership of 1.3 billion shares, which is approximately 8.2815%. BLACKROCK INC., holding 1.03 billion shares of the stock with an approximate value of $176.59 billion in PSNY stocks shares; and BERKSHIRE HATHAWAY INC, currently with $156.75 billion in PSNY stock with ownership which is approximately 5.8325%.